Vontobel Holding Ltd. Purchases 18,423 Shares of Bank of America Co. (NYSE:BAC)

Vontobel Holding Ltd. boosted its position in Bank of America Co. (NYSE:BAC) by 8.9% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 226,384 shares of the financial services provider’s stock after buying an additional 18,423 shares during the period. Vontobel Holding Ltd.’s holdings in Bank of America were worth $9,950,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Swedbank AB increased its holdings in Bank of America by 0.7% during the 3rd quarter. Swedbank AB now owns 7,042,374 shares of the financial services provider’s stock worth $279,441,000 after purchasing an additional 50,849 shares in the last quarter. Onyx Bridge Wealth Group LLC increased its holdings in Bank of America by 5.0% during the 3rd quarter. Onyx Bridge Wealth Group LLC now owns 9,829 shares of the financial services provider’s stock worth $390,000 after purchasing an additional 467 shares in the last quarter. Precedent Wealth Partners LLC increased its holdings in Bank of America by 18.2% during the 3rd quarter. Precedent Wealth Partners LLC now owns 33,864 shares of the financial services provider’s stock worth $1,344,000 after purchasing an additional 5,222 shares in the last quarter. Net Worth Advisory Group bought a new stake in Bank of America during the 3rd quarter worth approximately $232,000. Finally, Accurate Wealth Management LLC increased its holdings in Bank of America by 1.9% during the 3rd quarter. Accurate Wealth Management LLC now owns 34,140 shares of the financial services provider’s stock worth $1,438,000 after purchasing an additional 641 shares in the last quarter. 70.71% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

BAC has been the subject of a number of recent research reports. Wells Fargo & Company boosted their price objective on Bank of America from $52.00 to $56.00 and gave the stock an “overweight” rating in a report on Friday, November 15th. HSBC raised Bank of America from a “hold” rating to a “buy” rating and set a $50.00 price objective for the company in a report on Tuesday, January 7th. Hsbc Global Res upgraded Bank of America from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, January 7th. Morgan Stanley boosted their target price on Bank of America from $54.00 to $56.00 and gave the stock an “equal weight” rating in a research note on Friday, January 17th. Finally, Truist Financial boosted their target price on Bank of America from $52.00 to $53.00 and gave the stock a “buy” rating in a research note on Friday, January 17th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating, fifteen have given a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat.com, Bank of America currently has a consensus rating of “Moderate Buy” and a consensus target price of $48.58.

Bank of America Trading Up 1.4 %

NYSE:BAC opened at $46.98 on Friday. The company has a market cap of $360.47 billion, a P/E ratio of 14.59, a P/E/G ratio of 1.29 and a beta of 1.33. The stock’s fifty day moving average price is $45.75 and its two-hundred day moving average price is $43.09. Bank of America Co. has a 1 year low of $32.49 and a 1 year high of $48.08. The company has a debt-to-equity ratio of 1.04, a current ratio of 0.78 and a quick ratio of 0.78.

Bank of America (NYSE:BAC) last issued its quarterly earnings data on Thursday, January 16th. The financial services provider reported $0.82 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.77 by $0.05. Bank of America had a return on equity of 10.29% and a net margin of 14.10%. The company had revenue of $25.30 billion for the quarter, compared to the consensus estimate of $25.12 billion. During the same quarter last year, the business posted $0.70 earnings per share. The firm’s revenue was up 15.0% compared to the same quarter last year. As a group, analysts expect that Bank of America Co. will post 3.69 EPS for the current year.

Bank of America Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, March 28th. Stockholders of record on Friday, March 7th will be given a dividend of $0.26 per share. The ex-dividend date of this dividend is Friday, March 7th. This represents a $1.04 dividend on an annualized basis and a dividend yield of 2.21%. Bank of America’s dividend payout ratio (DPR) is presently 32.30%.

Bank of America Company Profile

Bank of America Corporation, through its subsidiaries, provides banking and financial products and services for individual consumers, small and middle-market businesses, institutional investors, large corporations, and governments worldwide. It operates in four segments: Consumer Banking, Global Wealth & Investment Management (GWIM), Global Banking, and Global Markets.